Hawaiian Electric Industries, Inc. (NYSE:HE) is Mad River Investors’ 4th Largest Position

Mad River Investors lifted its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 910.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,215,900 shares of the utilities provider’s stock after acquiring an additional 1,095,600 shares during the quarter. Hawaiian Electric Industries makes up about 5.6% of Mad River Investors’ holdings, making the stock its 4th biggest holding. Mad River Investors’ holdings in Hawaiian Electric Industries were worth $13,314,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Kingswood Wealth Advisors LLC purchased a new stake in shares of Hawaiian Electric Industries in the 1st quarter valued at approximately $1,840,000. Lesa Sroufe & Co purchased a new stake in Hawaiian Electric Industries in the 1st quarter worth approximately $1,994,000. Robertson Stephens Wealth Management LLC lifted its position in Hawaiian Electric Industries by 49.0% in the 1st quarter. Robertson Stephens Wealth Management LLC now owns 28,873 shares of the utilities provider’s stock worth $316,000 after buying an additional 9,500 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Hawaiian Electric Industries by 269.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider’s stock worth $742,000 after buying an additional 49,400 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Hawaiian Electric Industries in the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $10.37 on Friday. The company’s fifty day moving average is $10.49 and its 200-day moving average is $10.20. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -0.80 and a beta of 0.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. The company had revenue of $744.07 million for the quarter. During the same quarter last year, the company earned $0.38 EPS. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HE. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Barclays increased their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group increased their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a research note on Wednesday, May 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.19.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.